Clobetasol Propionate

TAIPEI, Nov. 28, 2024 /PRNewswire/ -- Taiwan-based Formosa Pharmaceuticals ("Formosa", 6838.TW) announced that the company has entered into an exclusive licensing agreement with Medvisis Switzerland AG ("Medvisis") in Switzerland and Liechtenstein, for exclusive rights to the commercialization of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), a marketed innovative treatment of post-operative inflammation and pain following ocular surgery. Medvisis, led by industry veterans with experience in multi-national pharma such as Novartis and GSK, holds close ties with Swissmedic, Switzerland's independent registration authority. Clobetasol propionate ophthalmic suspension, 0.05% (APP13007), approved by the U.S. Food and Drug Administration (FDA) in March, 2024, was recently launched in the United States in September, 2024. The licensing agreement includes upfront payment and sales milestones, with additional considerations throughout the term of the agreement. APP13007's active ingredient is the superpotent corticosteroid, clobetasol propionate, and is derived from Formosa Pharma's proprietary APNT® nanoparticle formulation platform. The novel formulation enables a convenient and straightforward dosing regimen (twice daily for 14 days) while providing rapid and sustained relief of inflammation and pain. In a recent US survey of 100 ophthalmic surgeons, rapid resolution of pain (~80% pain-free four days post-surgery) and low incidence of adverse events (<2%) were highlighted as key drivers to prescribing APP13007. In a Medvisis-led KOL survey, ophthalmologists collectively appreciated APP13007's convenient posology and remarkable safety profile. APP13007 anticipates having significant potential in Switzerland, which reports greater than 100,000 cataract surgeries, annually. These surgical rates have driven a single-agent corticosteroid market of greater than USD $2.1 million, utilizing treatments with a less convenient dosing regimen (4 to 6 times daily). "We are pleased to partner with Medvisis, marking our second foothold in Europe. Medvisis' strong connections with their national regulatory agency and rich KOL network give us great confidence that the Swiss public will benefit from this novel and effective treatment for ocular surgery recovery." said Erick Co, President and CEO of Formosa Pharmaceuticals. Manuel Ackermann, CEO of Medvisis Switzerland, stated, " We are pleased to provide patients with post-operative inflammation and pain following ocular surgery a new, best-in-class treatment option that leads to faster symptom relief. APP13007 is of great value to Swiss patients while it sets the foundation for Medvisis to build a strong portfolio of innovative ophthalmology solutions." About Formosa Pharmaceuticals, Inc. Formosa Pharmaceuticals, Inc. (6838.TW) is a clinical stage biotechnology company with primary focus in the areas of ophthalmology and oncology. The company's proprietary nanoparticle formulation technology (APNT®), through which APP13007 was developed, improves the dissolution and bioavailability of APIs for topical, oral, and inhaler administration. Resulting formulations have high uniformity, purity, and stability, thereby allowing the utilization of poorly soluble or extremely potent drug agents which otherwise may face insurmountable challenges in safety, delivery, and penetration to target tissues. For more details about Formosa Pharma and APNT®, visit . About Medvisis Switzerland AG Medvisis Switzerland AG is the partner of choice for innovative specialty, rare disease, and hospital products in Switzerland with expertise in product registration, reimbursement and market access, and rapid commercialization uptake. The company targets the in-licensing of pharmaceutical products for which there is high medical need along with strong endorsement from key opinion leaders. To know more about Medvisis, visit . SOURCE Formosa Pharmaceuticals Inc., WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

Avenue Capital agrees to Company’s deferral of principal and interest payments on its outstanding debt until the end of February 2025 Eyenovia continues to evaluate a broad range of strategic alternatives to maximize stakeholder value NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Eyenovia, Inc. (NASDAQ: EYEN), an ophthalmic technology company, today provided an update on its ongoing restructuring efforts. The Company announced today that Avenue Capital Management L.P. has agreed to support a potential restructuring of Eyenovia’s Loan and Security Agreement and has agreed to defer principal and interest payments on its outstanding debt until the end of February 2025. Eyenovia also announced today that it is taking additional actions that are intended to reduce the Company’s ongoing personnel-related costs by over 70%. “We are grateful to Avenue Capital for the support they have demonstrated during this challenging time,” stated Michael Rowe, Chief Executive Officer of Eyenovia. “We took immediate steps to restructure our costs and extend our runway to allow us the flexibility to explore a broad range of strategic alternatives.” As previously disclosed, Eyenovia is considering a variety of steps to maximize value to all stakeholders, to reduce expenses and to evaluate its strategic options, which may include a business combination, reverse merger, asset sales or a combination of those alternatives. Further information will be made available once the evaluation of strategic options has been completed. About Eyenovia, Inc. Eyenovia, Inc. (NASDAQ: EYEN) is an ophthalmic technology company developing and commercializing products leveraging its proprietary Optejet topical ophthalmic medication dispensing platform. The Optejet is targeted at chronic front-of-the-eye diseases due to its ease of use, enhanced safety and tolerability, and potential for superior compliance. The company’s current commercial portfolio includes clobetasol propionate ophthalmic suspension, 0.05%, for post-surgical pain and inflammation, and Mydcombi® for mydriasis. Eyenovia has also secured licensing and development agreements for additional multi-billion-dollar indications where the Optejet may be advantageous, including dry eye. For more information, visit Eyenovia.com. Forward-Looking Statements Except for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions, including the evaluation of the company’s strategic alternatives, regulatory submissions, estimated market opportunities for our product candidates and platform technology, the impact of the Gen-2 Optejet device, and the timing for availability and sales growth of our approved products. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the U.S. Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to, among other things: the availability of sufficient financial resources to make payments on our debt obligations to Avenue Capital and to continue and complete the evaluation of our strategic alternatives, as well as the clinical development and commercialization of our products, as to which no assurance can be given; risks of our clinical trials, including, but not limited to, the costs, design, initiation and enrollment, timing, progress and results of such trials; the timing of, and our ability to submit applications for, obtaining and maintaining regulatory approvals for our products and product candidates; the potential advantages of our products, product candidates and platform technology; the rate and degree of market acceptance and clinical utility of our products and product candidates; our estimates regarding the potential market opportunity for our products and product candidates; reliance on third parties to develop and commercialize our products and product candidates; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our products and product candidates; intellectual property risks; changes in legal, regulatory, legislative and geopolitical environments in the markets in which we operate and the impact of these changes on our ability to obtain regulatory approval for our products and product candidates; and our competitive position. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Eyenovia does not undertake any obligation to update any forward-looking statements. Eyenovia Contact:Eyenovia, Inc.Andy Jones Chief Financial Officerajones@eyenovia.comEyenovia Investor Contact:Eric RibnerLifeSci Advisors, LLCeric@lifesciadvisors.com(646) 751-4363